BlackRock and Meta announced a partnership to build a $14 billion AI data center campus in El Paso, Texas, with BlackRock-managed funds taking an 80% ownership stake and Meta retaining the remaining 20%. Meta will contribute land and construction-in-progress assets valued at roughly $2.3 billion, while BlackRock will invest about $4.9 billion in cash toward the buildout. The arrangement reflects a growing financing pattern in which Wall Street firms fund Big Tech’s costly AI infrastructure, echoing Meta’s similar deal with Blue Owl Capital for a separate data center in Louisiana.
